Fed 84-Day TAFs Go At 0.420% Stop-Out Rate

The Federal Reserve yesterday announced the results of its term auction facility, selling $66.471 billion of 84-day credits at a 0.420% stop-out rate, the sole rate awarded to all successful bids.

The bid-to-cover ratio was 0.44. Total propositions submitted were $66.471 billion. There were 80 bidders. The average bid was $831 million.

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